Word: downturns
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...economy may indeed be overdue for a recession. The last U.S. downturn ended in November 2001. That means the U.S. economy has now been expanding for more than five years - 63 months, to be exact. Since World War II, the average time between recessions has been just 57 months. On the other hand, the last period of sustained economic growth lasted 10 years, from 1991 to 2001. And the one before that lasted 92 months, from...
...housing downturn wrecked the hopes of many a builder, leaving even big outfits like Pulte Homes, based in Bloomfield Hills, Mich., with unsold homes and too much land. Once the nation's largest builder by revenue, it dropped to No. 4 after a bad 2006 but found solace in its Del Webb brand, aimed at people 55 and older. TIME's Cathy Booth Thomas talked to Pulte president and CEO Richard Dugas, who is banking on these baby boomers to help the bottom line. For the record, he is, at 41, too young to live in a Del Webb community...
...more vulnerable if tapped-out Americans start to shop less, given that their own domestic spending is relatively weak; by contrast, China's consumption is rising steadily, propelled partly by housing demand. He points out that China wasn't hit as badly as other Asian countries by the U.S. downturn in 2001, and that it's in a stronger position now to weather a slowdown...
...skated to a thrilling 2-2 tie, maintaining No. 4 Dartmouth atop the ECAC standings, but in the end establishing both teams as legitimate national title contenders and re-affirming the matchup as one of the sport’s premier rivalries. The pairing suffered a bit of a downturn in 2005-06, if the attendance number from Harvard’s home game—509—is any indication. Last season, without the services of their respective corps of elite players, both the Crimson and the Big Green slipped from their usual habitats in the top five...
...forced Tokyo to allow the yen to rise sharply against the dollar in 1985, Japan was plunged into a recession from which it is still struggling to emerge. Given the social unrest already plaguing an economically booming China, they might add, the chaos such a prolonged economic downturn could engender is frightening to contemplate. These arguments are of course all too familiar to both sides. Which means that Paulson's 73rd trip to China is likely to end the same way that those of his less Sino-centric predecessors did: lots of talk but no action...